Circuit City Clarifies on Closures

Circuit City Thursday issued a "clarifying statement" on earlier reports that it planned to break leases at over 150 stores.

In November, the statement reads, "Circuit City announced plans to close 155 stores that were underperforming or no longer a strategic fit for the company... on December 17, Circuit City filed with the Court a notice that an auction of the leases for 154 of these stores was cancelled and therefore will seek to have the leases rejected. Circuit City has not announced any plans for additional store closures."